Rutledge, Knox County, Missouri Property Taxes
The median property tax rate in Rutledge, MO is 0.69%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Rutledge, the typical annual property tax bill reaches $221, significantly below the national median of $2,690. Property taxes in Rutledge are calculated based on the tax-assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rutledge's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rutledge or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rutledge, Knox County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$207
$192
Ownwell’s Rutledge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rutledge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rutledge to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rutledge, Knox County, Missouri
Property taxes in Rutledge, Missouri, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Rutledge is 0.69%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Rutledge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rutledge estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Rutledge's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63563 zip code has both the highest and the lowest median property tax rate of 0.69%. Understanding how these areas compare with Rutledge provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rutledge Tax Rate
0.69%
Average Knox County Tax Rate
0.72%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rutledge, Knox County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63563 | 0.69% | 0.69% | 0.69% | 0.87% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Rutledge, Knox County, Missouri
In Rutledge, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Rutledge, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Rutledge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rutledge is $29,960, with the highest median tax bill reported at $221 in the 63563 zip code.
Property Tax Assessment Values Across Rutledge, Knox County, Missouri
Source: Ownwell
$20,440
$28,380
$36,320
Average Rutledge Assessed Value
$29,960
Average Knox County Assessed Value
$29,820
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rutledge, Knox County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63563 | $1,576 | $11,260 | $29,960 | $73,980 | $139,460 |
Source: Ownwell
Property Tax Bills Across Rutledge, Knox County, Missouri
In Rutledge, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors, including property size, location, and improvements, influence the assessed value. Homeowners in Rutledge can expect their property tax bills to vary significantly; for example, tax bills at the 25th percentile are around $76, while those at the 75th percentile reach approximately $592. At the 90th percentile, tax bills can be as high as $1,263. These figures highlight the range of property tax obligations in the area, reflecting differences in property values and assessments. Compared to the national median property tax rate of 0.99%, Rutledge's property tax rates can be seen as relatively moderate. Homeowners should be aware that appealing their property assessments or seeking exemptions could potentially lower their tax bills, providing financial relief.
Average Rutledge Tax Bill
$221
Average Knox County Tax Bill
$245
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Rutledge, Knox County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63563 | $10 | $76 | $221 | $592 | $1,263 |
Source: Ownwell